The businessman and his executives aim to formalize the direct acquisition and operation of oil blocks in Angola’s onshore and offshore areas, as well as the acquisition or management of cement factories.
The following article was first published , by Forbes Africa Lusofona and has been translated and republished with permission.
The tycoon and president of Dangote Industries, Aliko Dangote, Africa’s richest man, arrived in Luanda on Tuesday for a brief visit to officially open his company’s subsidiary in Angola, according to the Angolan Embassy in Nigeria.
“The businessman and his executives aim to formalize their participation in the construction of the Lobito Refinery, within the framework of investments in the Lobito Corridor, the direct acquisition and operation of oil blocks in Angola’s onshore and offshore areas, as well as the acquisition or management of cement factories,” the embassy confirmed.
Aliko Dangote was received by Angolan President João Lourenço and will hold working meetings with ministerial entities, Sonangol, the National Oil, Gas, and Biofuels Agency (ANPG), and heads of public institutions.
The Nigerian billionaire’s first step is to open a subsidiary of Dangote Industries in Angola to consolidate his investment intentions in various sectors.
In a recent meeting with Ambassador José Bamóquina Zau to finalize the Luanda agenda, Aliko Dangote expressed his enthusiasm and commitment.
“I appreciate the attention of His Excellency João Lourenço at this moment when Africa must become increasingly united with its people,” the billionaire stated, adding, “It’s true that the situation in Angola has changed significantly; we hear good news from friends who visit, which increases my satisfaction and desire to invest.”
About Aliko Dangote
Aliko Dangote, 67 years old, is the first individual to build a private refinery in Nigeria. He is Africa’s richest man and ranks 211th globally, with a net worth estimated at $27 billion (Bloomberg Billionaires Index).
In 1977, Dangote started as a small trading company in Kano, later expanding to Lagos. With a loan of ₦500,000 (Naira) from his uncle, Dangote built one of Africa’s largest conglomerates, with international operations in Benin, Togo, Ghana, Gabon, Congo, DRC, South Africa, Zambia, Cameroon, Ethiopia, Tanzania, and now Angola.
With 11,000 employees in West Africa, the Dangote Group has evolved from a trading company to Nigeria’s largest industrial group, encompassing divisions such as Dangote Sugar Refinery, Dangote Cement, and Dangote Flour.
The group dominates Nigeria’s sugar market and refinery business. Its beverage, brewery, and confectionery companies cover nearly 70% of the market. It also has substantial investments in real estate, banking, transportation, textiles, and agro-industry.
In 2022, Dangote completed the assembly of the Peugeot Nigeria factory after partnering with the Stellantis Group. The new automobile company, Dangote Peugeot Automobiles Nigeria Limited (DPAN), headquartered in Kaduna, began operations with the launch of models such as the Peugeot 301, 508, 3008, 5008, and Landtrek.
SOURCE: forbesafrica.com